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GlobeSt.com EXCLUSIVE: In Move to 'Raise the Bar,' C&W Lays Off 150 People

NEW YORK CITY-Some 70 brokers and 80 low-to-mid-level managers have gotten the axe. Bruce Mosler says the cutbacks were more a matter of clearing the decks for higher production than bending to the pressures of a slumping economy.

By John Salustri | Updated on November 01, 2001

NEW YORK CITY-In a move made in part to boost production, Cushman & Wakefield has laid off roughly 70 brokers and 80 low-to-mid-level managers throughout the nation.

A prepared statement issued by the firm noted that, “in assessing the economic outlook, and in our continual efforts to improve efficiencies for the ultimate benefit of our clients, we have instituted a number of expense- and operating cost-containment measures. While we believe these reductions to be the prudent and necessary outcome of our on-going analysis of the economy, we remain committed to maintaining the quality of global client service for which Cushman & Wakefield is known here and abroad.”

But in an exclusive interview with GlobeSt.com, president of US operations Bruce Mosler says that the cuts were made not only as a cost-containment move but also as an opportunity to boost production. “We are looking at opportunities to gain more market share and grow our leadership position,” he says. “We don’t evaluate our talent on an annual basis, but rather we look at a history of their production.” That history, he notes, could span from three to five years.

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